Gordon Ramsay's Own Kitchen Nightmare: Massive Debt? [UPDATED]

“This is an inaccurate interpretation of the public filings that were reported widely in the media back in May, and any claim that the company is anywhere near bankruptcy is ludicrous. It is standard for the head of the company to deliver loans to expand the business and ensure experiences remain first class, and the Gordon Ramsay Group continues to deliver a strong performance, with growth year on year."

ORIGINAL ARTICLE: If what RadarOnlineis reporting about Gordon Ramsay’s self-made empire is true, then perhaps the reality-television chef should hold off on trying to help any other restaurants stay open.

Instead, the 47-year-old celebrity might want to direct his attention closer to home.

The gossip website claims to have gotten their hands on exclusive access to company documents that show that Ramsay’s business empire is dangerously in the red.

Allegedly Kavalake Holdings and Ramsay Holdings, which together account for all of Ramsay’s business ventures and profits, report spending that exceeds earnings by millions of dollars.

In the case of Kavalake Holdings, $36.5 million in profit was reported for the 2013 fiscal year. While this number is impressive, the same company reports expenses totaling $45.8 million.

In one year, that same company declared a total of $50 million in debt for various reasons, including nearly four million dollars in legal fees.